Sagicor Group Jamaica plans to do a real estate development in Spanish Town, St Catherine, says President and CEO Christopher Zacca. It follows acquisition of a majority stake in start-up real estate venture Bailey-Williams Limited, last year. “It...
Investors tend to trade stocks lower during the month of general election, but not so this time around. There was a rise in the JSE Combined Index both on the day of polls and the day after, albeit marginal movements that amounted to less than a...
The Jamaica Stock Exchange, JSE, eked out trading gains on election day within the wider context of the stock market and real economy in decline, due to the contractionary effects of the COVID-19 pandemic. It came amid news from the JSE after...
Blue Mountain Bicycle Tours is investing millions to expand its zipline attraction at Cedar Valley despite the COVID-19 pandemic, which could further delay the opening of the ride. The project involves setting up a second zipline, which would...
Workers planning to retire this year with a pension might want to reconsider and wait for a year or two, before they start pulling down on their retirement benefits, pension experts say. The advice stems from the decline in the value of pension...
New Fortress Energy, NFE, doubled its revenues in the June quarter to US$76 million, strengthened in part by earnings from its power facility at Jamalco which came on stream in March. In newly released financials, New Fortress reported that US$45...
Jamaican stock market investors are trading more online, with volumes already surpassing the levels seen in all of 2019, due in part to lockdown measures against the coronavirus. It shows that while slow, there is incremental transition to online...
In keeping with demand, medical masks, hand sanitisers and detergents aimed at fighting the spread of the coronavirus, dominate supplies in warehouses operated by Medical Disposables...
The Jamaican economy lost $4.5 billion of real value in the March quarter, numbers that capture just the first three weeks of virus-containment measures that were cited as the cause of the decline. Economic output, measured as gross domestic...
Jamaican telecommunications companies Digicel and FLOW continue to voice concerns that some new directives by the Office of Utilities Regulation (OUR) to mitigate against shock bills and credit depletion could negatively affect their financials....
Aurora, a Canadian listed cannabis company, has sold its Jamaica asset for less than its CDN$4.5 million valuation in order to get cash. “The company also accepted an offer to sell its Jamaica property for gross proceeds of CDN$3.4 million,” said...
PLAYA RESORTS, which operates hotels in Jamaica, Dominican Republic and Mexico, plans to reopen in July with the pitch of the resorts being a safe space away from the pandemic. The closure of the 23 hotels in its chain since late March will cost...
The operator Jamaica’s two largest airports wants to scrap or delay non-essential capital projects. It forms part of a wider halt of capital projects by the Grupo Aeroportuario del Pacífico – which translate to Pacific Airport Group, or GAP –...
New Fortress Energy, NFE, is suggesting gas assets will remain competitive, notwithstanding the collapse in oil prices to levels that are comparatively cheaper than natural gas. That’s due to lower maintenance costs and also the expectation that...
king conglomerate NCB Financial Group Limited announced that it has taken a $9 billion hit from COVID-19 so far, with the writedown of investments and foreign currency losses in the March quarter, but it also doubled its provision for credit losses...
TRAINING INSTITUTE iCreate Limited plans to slash costs by one-third to cope with the COVID-19 outbreak and reduce losses highlighted by its auditors. The company needs to shed costs, including $12.5 million in bank overdrafts as at December, to...
Digicel Group chairman Denis O’Brien has put up the telecoms regional headquarters on the Kingston waterfront as collateral under a debt deal with bondholders. The Digicel founder committed to putting up US$50 million – half in cash and the rest in...
JAMAICA’S LARGEST insurance conglomerate, Sagicor Group, says it can weather a three-month shutdown of the country without too big a financial impact, but the longer the health crisis lasts, the more risks the company faces. Sagicor has gamed out...
TELECOMMUNICATIONS COMPANY Digicel Group announced a halt to interest payments to bondholders for 30 days, which led the rating agency Fitch to downgrade its bonds to ‘C’. Digicel defended its move as an allowed measure, saying the delay comes...
GUEST HOUSE operator Shelly-Ann Johnson is looking to stranded visitors to fill rooms that are being emptied by travel restrictions to stem the spread of the coronavirus. “We want to be a beacon of hope for travellers currently in the island,”...
Michael Riley, who sells vape pens within the burgeoning cannabis trade in Negril, holds a cash card that provides him with flexibility, but only to a certain degree. He doesn’t have a bank account, but uses ePay, a Mastercard-branded cash card...
J amaica’s central bank sealed over US$41.5 million ($5.8 billion) worth of currency swaps with banks and dealers, transactions that were introduced to address volatility in the foreign exchange market. The Bank of Jamaica’s, BOJ’s, overall...
Key Insurance Company directors voted to accept the takeover offer from the GraceKennedy conglomerate to acquire majority stake in the entity, albeit at a steep discount on the stock’s trading price. The GK offer, priced at $2.01 per share, was set...
Brokerage firms rate the TransJamaican Highway, TJH, initial public offering of shares as a buy, with expectations that the stock price will rise in the short term. That’s despite disclosures in the IPO prospectus indicating the toll operator was...
